Union Investment extends the lease of the Pullman Berlin Schweizerhof Hotel by 15 years

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Published on 08/09/20 - Updated on 17/03/22

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This major Berlin hotel, which has been owned by the real estate fund Unilmmo: Europa since 1999, is now managed by HR Group, while the remaining lease term is extended from 15 to 30 years and will run until 2050.

The hotel was previously managed by ValueState Hotels under a 20-year contract with an option to extend, replacing the original agreement with Accor until 2019. The shareholders of ValueState Hotels have now sold all their shares to HR Group, which will operate the hotel with Accor under the same name. The management contract has been converted into a franchise agreement and its remaining term has been doubled.

HR Group operates 47 hotels with a total of approximately 9,500 rooms, including 29 under an Accor brand.

The founder and CEO of HR, Ruslan Husry, said: "Integrating the Pullman Berlin Schweizerhof into the portfolio of hotels we manage allows us to add a new prestigious hotel of international renown in the very high-end segment. This transaction reflects HR Group's current growth strategy. »

"As a hotel manager, Accor has succeeded perfectly over the last few years in positioning the hotel on the market and also clearly understood our requirements as a long-term hotel investor. As a seasoned Accor franchisee and strategic partner, HR is in an excellent position to ensure the continued success of Pullman Berlin," explained Martin Schaller, Head of Asset Management Hospitality at Union Investment Real Estate GmbH.

Duncan O'Rourke, COO Central Europe at Accor, said: "For us, the Pullman Berlin Schweizerhof is not only a flagship of the Berlin hotel industry, it is also emblematic for the Pullman brand in Europe. We are looking forward to a long-term collaboration with two such strong partners. In the current business climate, we also hope that this decision will send a strong signal of our confidence in the long-term success of the hotel. »

The Pullman Hotel Berlin Schweizerhof on Budapester Straße, near the famous Kurfürstendamm Avenue and the Tiergarten Park, has 377 rooms and 18 conference rooms, giving it a special position in the Berlin hotel landscape, especially in the MICE market.

Union Investment Group

Union Investment Group

Investor / Finance

  • Union Investment Group Germany
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